Saudi Arabia’s main state wheat buying agency, the General Food Security Authority (GFSA), has purchased around 235,000 metric tons of hard wheat in an international tender, according to the agency.
The purchase was considerably below the 595,000 tons sought in the tender.
The origins offered were the European Union, Black Sea region, North America, South America, and Australia, with the sellers having the option of selecting the origin supplied, GFSA governor Ahmad Al-Fares said in a statement.
The GFSA stated that these purchases were made in dollars per ton, with the cost and freight included (C&F), along with the seller and the port and arrival period in Saudi Arabia.
While the details of the specific sellers and arrival periods were not disclosed, the lower-than-expected purchase volume of 235,000 metric tons highlights the ongoing challenges in the global wheat market.
The tender results come as countries around the world grapple with the impacts of factors like the Russia-Ukraine conflict, which has disrupted major wheat-exporting regions, as well as concerns over the potential for a global food crisis.